When it comes to short sales, how do you ensure that you get a real deal and everyone plays fair? The sad reality is that lenders are not always honest and upfront with homeowners. For the most successful short sale in Wantagh, NY you need to turn to the experts. Their tips will help you be certain that you are not getting burned in the process. Let’s take a look at some of the important areas that an expert can help you with.
Look For Honest Lenders
First of all, a professional can help you with navigating the slippery slope of lenders and their policies, which are sometimes quite unrealistic. It is important to remember that a short sale is supposed to make things easier for you, not harder! Therefore be careful if a lender is telling you that they only accept sales that are equal to a high amount (90% or above) of the market value of the home. That is a ridiculous request and is also unrealistic for a struggling homeowner. It also does nothing for real estate investors, who usually hit up these kinds of deals for budget-friendly properties.
Read The Fine Print
It is crucial to understand the contract you have with your lending entity. Many companies are pros at pulling the wool over your eyes and denying assistance without stating it outright. If you are unable to keep up with your mortgage payments, then you need a company that will accept what you can pay and help you with selling your home on the short list. Be aware that many banks and businesses will try to make it seem as though they acknowledge deficiencies , but you must read the fine print to ensure this is the case. A team of experts in Wantagh, NY can assist you find out what is really going on with your contract.
Dealing With Documentation
Finally, the entire process involves a lot of paperwork, which can be daunting for many individuals. It is not easy to sift through the documents and files and determine what it all means. Therefore you should enlist the assistance of a real estate pro who can outline what these papers mean for you and selling your home. They can pinpoint the details and the big picture, as well as keep you informed along the way. Some documents that should be included are the details of the broker’s price, the purchase and sales agreement, and your letter that explains why you can no longer pay your mortgage.
It is a lot, so talk to a pro today!
To get more information about a short sale in Wantagh, Merrick, Bellmore, Seaford, Nassau, Suffolk, Brooklyn, or Queens, NY.